Streetbeat News

Revenues

AZEK

AZEK Co (NYSE:AZEK) was analyzed by 12 analysts, showing a shift towards more bullish ratings over the last quarter with an average 12-month price target of $44.92, marking a 13.87% increase from the previous target. The company faces challenges with a -38.16% revenue decline and below industry benchmarks in profitability and efficiency metrics. Despite this, analysts have raised their price targets and ratings, reflecting optimism in its future performance.

Portfolio Pulse from Benzinga Insights

February 08, 2024 | 6:00 pm

GOOG

MSFT

SPY

TSLA

The S&P 500 surpassing $5000 and China's fastest price drop since 2009 are key highlights. SPDR S&P 500 ETF Trust (SPY) reflects the S&P 500's performance. Jobless claims remain steady, indicating a strong job market. Treasury auctions draw significant investor interest. Alphabet Inc (GOOG) rebrands its large language model to Gemini, competing with Microsoft's (MSFT) ChatGPT. China's price drop may prompt economic measures, affecting global markets. Early trade shows varied money flows in major tech stocks and ETFs, with notable movements in Tesla (TSLA), Meta Platforms (META), NVIDIA (NVDA), and Amazon (AMZN). Gold and oil ETFs (GLD, USO) see specific trading patterns, while Bitcoin experiences aggressive buying.

Portfolio Pulse from The Arora Report

February 08, 2024 | 5:50 pm

SMG

Scotts Miracle-Gro (NYSE:SMG) reported a 22% decline in Q1 sales to $410.4 million, with its Hawthorne Gardening Company subsidiary experiencing a 39% drop in sales. The company reaffirmed its fiscal 2024 guidance, aiming for high-single-digit growth in its consumer business and maintaining Hawthorne cash flow positive for fiscal 2024. Despite the sales decline, SMG is focused on debt paydown and restoring a strong balance sheet with a target of $575 million adjusted EBITDA and $560 million free cash flow.

Portfolio Pulse from Jelena Martinovic

February 08, 2024 | 4:45 pm

ACB

MEDFF

Aurora Cannabis Inc. (NASDAQ:ACB) reported a 41% YoY increase in international medical cannabis revenue for Q3 FY2024, marking its fifth consecutive quarter of positive adjusted EBITDA. The growth was attributed to higher sales in Australia and Europe. Aurora also announced the acquisition of Indica Industries Pty Ltd, operating as MedReleaf Australia, for AUD$50 million, expected to drive positive free cash flow in 2024. Q3 financial highlights include a net revenue of CA$64.4 million and a net loss of CA$25.5 million, with a positive outlook for Q4.

Portfolio Pulse from Jelena Martinovic

February 08, 2024 | 4:04 pm

ESS

Essex Property Trust (NYSE:ESS) received mixed analyst ratings over the last three months, with a shift towards a more bullish outlook in the last 30 days. The average 12-month price target for ESS is now $251.43, up from $237.29, indicating a positive sentiment shift. The company, owning over 62,000 apartment units, showed a revenue growth of 0.61% as of December 31, 2023, but faces challenges in net margin and ROA compared to industry averages. Its strong ROE and low debt-to-equity ratio highlight effective equity use and financial health.

Portfolio Pulse from Benzinga Insights

February 08, 2024 | 4:01 pm

VOYA

Analysts have mixed views on Voya Financial (NYSE:VOYA), with recent evaluations showing a shift towards a more cautious stance. The average 12-month price target has been adjusted to $82.25, down from $84.50. This change reflects updated analyst ratings and price targets from firms like RBC Capital and Morgan Stanley, indicating a nuanced perspective on the company's future performance. Despite facing challenges such as a slight revenue decline and below-average net margin, Voya Financial's strong ROE suggests effective use of shareholder equity.

Portfolio Pulse from Benzinga Insights

February 08, 2024 | 4:00 pm

FLT

Seven analysts have recently updated their ratings on Fleetcor Technologies (NYSE:FLT), with a mix of bullish, somewhat bullish, and indifferent perspectives. The average 12-month price target for FLT has been raised to $296.00, indicating a 5.9% increase from the previous target. Analysts from firms like RBC Capital, Mizuho, Jefferies, Citigroup, Baird, and BMO Capital have adjusted their price targets and ratings, reflecting a positive outlook on FLT's financial performance, including its revenue growth, net margin, ROE, and ROA, despite a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

February 08, 2024 | 4:00 pm

SAVE

During a conference call, a Spirit Airlines executive stated that the company is expected to start generating cash in March, with plans to begin building its cash reserves in the second quarter and beyond.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 3:23 pm

CYBR

CyberArk Software Ltd (NASDAQ:CYBR) stock soared after reporting a 32% year-on-year increase in Q4 revenue to $223.1 million, surpassing the consensus of $209.7 million. The company also beat EPS estimates with $0.81 compared to the consensus of $0.47. Subscription revenues grew by 70% Y/Y, and the company saw a 36% increase in Annual Recurring Revenue (ARR) to $774 million. CyberArk ended the quarter with $1.3 billion in cash and equivalents, and provided an optimistic outlook for Q1 and FY24, expecting revenues and EPS above consensus estimates.

Portfolio Pulse from Anusuya Lahiri

February 08, 2024 | 3:10 pm

AMKBY

A.P. Moller - Maersk has announced that there is high uncertainty regarding the duration and degree of disruption in the Red Sea, indicating potential impacts on global shipping routes.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 3:07 pm